U.S. CFPB expands oversight of Apple Pay, other digital payments services

The Consumer Financial Protection Bureau (CFPB) has finalized a rule that will bring greater oversight to Apple Pay and other nonbank companies offering digital funds transfer and payment wallet services. This includes Google and Amazon, as well as fintech firms such as PayPal, Block, and peer-to-peer payment services like Venmo and Zelle.
The CFPB’s claimed goal is to ensure that these nonbank companies adhere to federal consumer protection laws, similar to traditional banks and credit u